Media release - 25^th June, 2013

Auctions on the rise in Perth as homeowners cash in

Perth auction clearance rates reach 54% according to RP Data
Raine & Horne offices reporting growing interest in auctions to sell WA homes
REIWA State Auctioneering Championships confirm popularity of auctions

Perth property prices are amongst the nation’s healthiest, according to figures from RP Data-Rismark, which revealed that homes in the western capital climbed by 1% in May, the only capital city in the nation to register positive growth.

Moreover, auction clearance rates recently approached 54% according to RP Data, pushing Perth above other mainland capitals Brisbane and Canberra, which underlines that selling a home via the auction process is gaining traction in Perth, according to Raine & Horne’s WA State Manager, Phil Hayes.

“Our offices are reporting a surge in auctions in recent months, as WA homeowners turn to auctions as a tried and true method of achieving the best price for their homes,” said Mr Hayes, who was a recent entrant in the REIWA State Auctioneering Championships.

“The Championships also highlighted the growing popularity and interest in auctions as a premium way of selling in WA,” he added.

Mr Hayes battled a strong field during the heats held last week, with his efforts qualifying him for the State Auctioneering Finals, to be held on 3rd July, 2013.

“The competition was of a high standard and I’m proud to have made the State Finals, where the winner and runner up will go on to represent WA in the Australasian Championships later this year,” said Mr Hayes.

“This is a great achievement on a personal level, but more importantly, it is great for Raine & Horne in WA, putting the brand up in lights once again in our 130^th year of operation.”

Mr Hayes is now looking forward to helping Raine & Horne become the agency of choice for sellers considering the auction option.

“This is because auctions create a sense of urgency around a home sale, potentially reducing the time a property is on the market.

“Also, an auction’s focused marketing campaign can be effective in attracting serious investors and buyers, which can be especially important if you are seeking a quick sale.”

Mr Hayes also confirmed that Raine & Horne will be significantly increasing its investment in auction training, to meet the growing demand from homeowners.

“Between now and the end of the year, we will be up-skilling our salespeople in all facets of the auction process, as it is a great way for our offices to offer a wide choice of selling methodologies to prospective sellers.

“This means we will be well-positioned to serve the growing number of WA real estate customers seeking an auction professional, and it will consolidate our efforts to grow the WA arm of the Raine & Horne business.”

-ENDS-

For further media information contact:

Phil Hayes, WA State Manager, Raine & Horne on 0466 793 384

Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400